During the last 5 years Process Mining has seen a rapid global adoption: first in academics and then in corporate business processes. Process Mining combined with Intelligent workflows, and Process Automation tools will be the key technologies to help companies to digitize and transform their business strategies.
As the digitalization of business processes is growing, we have seen a race between enterprise tech companies trying to acquire process mining startups in the last 2 years (here is a partial snapshot of recent acquisitions)
Question: Why such a rush and what is the Future of Process Mining?
In our research, we found that most of process mining project fails to deliver expected value because:
- Teams end up spending 80% of the effort in connecting to source system, prepping the right data for mining, duplication of data across platform, dealing with compliance approvals..etc.
- And then you need people with advanced analytics/data science skills to spend 20% effort to find any meaningful insight.
Any solution, where time to value is too long and require special skills to use, cannot be the future. And that is why all big tech player rushing to buy or build this capability natively on the platform.
Here are my predictions on the future of process mining:
1. It should be inbuilt in to the platform/workflows. Always-ON turn key solution. A business user pick a process from your process library and see the process x-ray and actionable process optimization opportunities.
2. It should be context aware to your persona/process. Process data analysis is contextualized to business outcome in an easy visual way. It automatically understands the process data model and show deep level of insights for a single or multi-departmental connected workflow.
3. It should be actionable. Bring user what they need, when they need it, in a way they can take actions. Example use case, I am a IT/Customer team manager, I see actionable process insights whether I need to fix the process or Coach/Train team members to increase the employee productivity.
4. It should crowdsource the learning from others. Customer running a same process in same industry will likely have the same process in-efficiencies issues. When we collectively share our learning and success on how we have optimized the process, the magic will happen.
Summary: Our world is increasingly more connected. The same applies to your systems, workflows, processes, and underlaying inefficiencies. I believe that in-platform, always-on and actionable process mining approach is the future for continuous Process Optimization.
You can try ServiceNow in-platform process mining for free on any-non prod instance. See yourself how it can help accelerate your journey to hyperautomation by cutting down 80% of efforts it takes to kickstart an optimization/automation project.
Questions/comments - leave them below.
Stay healthy and have fun optimizing your processes.
-Manjeet
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